From Margaret Galecki:
Years ago, I was standing in the line at the gas station waiting to pay for my gas. The line wasn’t very long so I was avidly reading the headlines of the tabloids to make sure I could finish them before it was my turn to pay. The line moved quickly and I joked with the cashier that she was too fast – I didn’t have time to find out what was really going on in the world. She nodded in agreement and we had a “moment” sharing the outrageousness of the “what people will publish.” I read one headline out to her: “Alien Baby Raised by Chimps.” Her smile disappeared, her eyes narrowed, she leaned towards me earnestly and said, “Oh, but that one is TRUE!”
Also in the real estate world, we have to be careful of what we publish knowing that the information we share may be read and believed! With the voluminous amount of real estate statistics available, I would caution a seller or potential seller to beware of national or aggregate local data and statistics.
Real estate data is most often represented by statistics dealing with what has been already been sold. Whereas "sold" statistics may help in some respects in understanding the market in the immediate past, an agent can help a seller wade through all of the information to understand the current market conditions and competition even more.
Average sale prices for the last six months in Blacksburg, Christiansburg and Radford, Virginia vary by as much as $70,000 for a single family home, so it is very important to be specific in analyzing a particular market. Unlike tabloid-like information available to the masses, your agent has exclusive access to data that can tell you at what price most properties in your neighborhood or community are being offered, what price most buyers are likely to offer, and how long it will take before you are likely to get an offer.
You're invited to read more from Margaret Galecki on Handshake 2.0 and to download the Coldwell Banker Townside App for the iPhone in the iTunes App Store or in the Android Market.